@misc{10481/86229,
year = {2023},
url = {https://hdl.handle.net/10481/86229},
abstract = {Purpose: Taking a resource-based view, we analyse the effect of high-performance work
practices (HPWPs) on the performance of small and medium-sized enterprises (SMEs) under
conditions of environmental hostility, and consider how this relationship is influenced by
managers’ embeddedness in social networks. We argue that high perceived levels of
environmental hostility strengthen the strategic value of HPWPs in SMEs, whereas high levels
of manager embeddedness in social networks weaken this contingent relationship.
Design/methodology/approach: These hypotheses were tested in a sample of 249 SMEs, from
two Spanish industries related to food production, using linear regression with two- and three-
way interaction effects.
Findings: The study results show that the implementation of HPWPs benefits SMEs’
performance in hostile environments. However, the dark side of managers’ social capital could
undermine any such benefit, especially if there is a high degree of network closure. In hostile
contexts, such closure appears to limit managers’ willingness to depart from the common
practice of reducing investment in human resources.
Originality: This study advances our understanding of the specific conditions under which
HPWPs sustain SME performance. It also introduces the dark side of managers’ social capital
into considerations of this relationship. Our findings provide new insights that are
counterintuitive to business practice.
Practical implications: Contrary to predominant beliefs that managers facing economic
adversity should reduce costs by cutting investment in personnel development, our study
indicates that supporting HPWPs enhances a firm’s objective financial performance.},
organization = {European Regional Development Fund (FEDER)},
organization = {Junta de Andalucía},
organization = {FEDER Andalucía 2014-2020},
organization = {MCIN/AEI/ 10.13039/501100011033: UPO-1258353, P20_00856, UAL2020-SEJ-D1872, ID2020-114751RB-I00, 
PID2020-117313RB-I00, PID2020-119663GB-I00},
publisher = {Emerald},
keywords = {SMEs, social capital, hostility, high-performance work practices},
keywords = {SMEs},
keywords = {Social capital},
keywords = {Hostility},
keywords = {High-performance work practices},
title = {In prosperity and adversity? The value of high-performance work practices for SMEs under conditions of environmental hostility and social embeddedness},
doi = {10.1108/IJM-12-2021-0707},
author = {Martínez-del-Río, Javier and Pérez-Luño, Ana and Bojica, Ana Maria},
}